Thrivent Financial for Lutherans Has $1.90 Million Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Thrivent Financial for Lutherans lessened its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,207 shares of the financial services provider’s stock after selling 1,872 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Pacific Premier Bancorp worth $1,899,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Pacific Premier Bancorp by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock worth $57,960,000 after acquiring an additional 25,964 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Pacific Premier Bancorp by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider’s stock valued at $33,510,000 after purchasing an additional 54,518 shares in the last quarter. William Blair Investment Management LLC grew its stake in Pacific Premier Bancorp by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,313,437 shares of the financial services provider’s stock worth $32,731,000 after purchasing an additional 30,647 shares during the period. Bank of New York Mellon Corp increased its holdings in Pacific Premier Bancorp by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock worth $28,128,000 after purchasing an additional 14,310 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Pacific Premier Bancorp by 16.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider’s stock worth $18,740,000 after purchasing an additional 107,544 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $21.25 on Friday. The business’s fifty day moving average is $23.85 and its 200 day moving average is $25.20. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.05 billion, a P/E ratio of 12.96 and a beta of 1.25.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. Sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a dividend yield of 6.21%. Pacific Premier Bancorp’s payout ratio is 80.49%.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and a consensus price target of $27.00.

Pacific Premier Bancorp Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.